The real value of an economic statistic refers to a statistic that has been adjusted for:
a. depreciation

Which of the following is included in GDP calculations?

a. the college tuition paid to enroll in a course b. a check for $50 received on your birthday c. cash income received by a self-employed landscaper that is not reported to the IRS d. sales revenue received from a yard sale

When a firm with market power practices third-degree price discrimination, it charges the highest price to the group that

a. has the most elastic demand. b. has the most inelastic demand. c. purchases the highest quantity. d. purchases the lowest quantity.